Thursday,12 September 2024 09:18:31

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Thursday,12 September 2024 at 08:15

UK & European stocks rallied in early trade following strong gains on Wall Street, particularly for the tech sector, and encouraging UK house price data.

Asia-Pacific markets rose, tracking gains on Wall Street fuelled by a tech rally.

Gold prices edged higher, with traders focusing on the upcoming U.S. economic data that may offer further insights into an expected reduction in the Federal Reserve’s interest rate next week.

Oil prices were flat as concerns about lower demand erased the gains from the previous session spurred by Hurricane’s Francine’s impact on output in the U.S., the world’s biggest crude producer.

In corporate news, GSK announced promising results from its phase two clinical trial for an mRNA-based seasonal flu vaccine.

The FTSE 100 pharmaceuticals giant said the study, which involved both younger - ages 18 to 64 - and older - ages 65 to 85 - adults, aimed to assess the safety and effectiveness of several mRNA vaccine formulations.

It said the vaccines were designed to target influenza A and B strains more effectively than the current standard of care.

Markets

09:15

FTSE 100 8,268 +0.91%

FTSE 250 20,753 +1.05%

DAX 18,534 +1.11%

the close

Dow Jones 40,861 +0.31%

S&P 500 5,554 +1.07%

NASDAQ 17,395 +2.17%

Fixed Income

UK 10-YR YIELD 3.773

Exchange Rates

GBP/USD 1.303

GBP/EUR 1.183

Commodities

Gold $2,517 +0.24%

Brent $71.49 +1.13%

Important - No news or research item should be construed as a recommendation to trade. The inclusion of securities within this report does not necessarily imply their suitability for individual portfolios or situations in respect of which further advice should be sought. Information contained in this report has been compiled from sources believed to be reliable but is not warranted to be accurate or complete.